EBay Inc. EBAY shares rose as much as 2% in extended trading Wednesday after its fourth-quarter results met or beat expectations, and its first-quarter outlook beat estimates. The stock had fallen 4 cents in the regular session to close at $47.85. The company reported fourth-quarter net income of $672 million, or $1.23 a share, compared with $1.97 billion, or $3.25 a share, in the year-ago period. Adjusted earnings were $1.07 a share, adjusted for stock-based compensation, depreciation and amortization and other costs. Revenue fell to $2.51 billion from $2.61 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.07 a share on revenue of $2.47 billion. For the full year, the company reported a net loss of $1.27 billion, or $2.27 a share, on $9.8 billion in revenue, which it attributed mostly to a loss in value of its investments. Analysts had expected earnings of $4.11 a share on revenue of $9.75 billion. EBay expects first-quarter adjusted earnings of $1.05 a share to $1.09 a share on revenue of $2.46 billion to $2.5 billion, while analysts had forecast adjusted earnings of $1.07 a share on revenue of $2.37 billion. The company’s board also declared a quarterly dividend of 25 cents a share, a 14% increase from a prior dividend.
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